University Fancards is a Birmingham, Ala.-based provider of collegiately-branded prepaid reloadable cards and gift cards for 22 universities. Led by CEO Lynn Boggs, the company sells reloadable cards online at myfancard.com and distributes gift cards through major retailers. The company plans to introduce its gift cards into several new major big box, grocery, pharmacy, and convenience stores this fall. It closed a $2.5M debt and equity funding round and said it will use the funds to accelerate growth. The financing brings the company's total-to-date funding to more than $5.4M. University Fancards LLC provides collegiately licensed gift cards and reloadable prepaid cards by teaming with college brands such as the Alabama Crimson Tide, Florida Gators, Tennessee Volunteers and Texas Longhorns. The company was co-founded in 2015 by CEO Lynn Boggs and CMO Greg Boggs and is based in Birmingham, Ala. It raised over $1.5M in a second funding round. Harpeth Capital served as financial advisor and, through Harpeth Ventures, participated in the investment. The company intends to use the funds to roll out the reloadable Fancard Prepaid Mastercard® for 15 schools by May and to increase University-branded cards to over 20 by year end. No operating metrics beyond the fundraising amount were disclosed in the article.

Total raised

$4M

Funding rounds

3

Latest round

Equity

Latest activity

May 2018